Gear Cutting Machinery Market Size, Share, Growth, and Industry Analysis, By Type (Gear Hobbing Machine, Gear Shaping Machine, Gear Shaving Machine, Gear Grinding Machine, Other), By Application (Automotive Industry, General Machinery Industry, Aerospace Industry, Other), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Gear Cutting Machinery Market REPORT OVERVIEW

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global gear cutting machinery market size was USD 1904 million in 2022 and market is projected to touch USD 2539.76 million by 2031 at CAGR 3.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the global gear cutting machinery market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

A gear cutting machine is used to fit gears, fine-finish and round off the butt ends of gear teeth, and rough out and polish gear teeth. This paper mostly discusses cutting machines, gear hobbling machines, gear shaping machines, gear shaving machines, and gear grinding machines. A gear cutting machine is used to fit gears, fine-finish and round off the butt ends of gear teeth, and rough out and polish gear teeth. This paper mostly discusses cutting machines, gear hobbling machines, gear shaping machines, gear shaving machines, and gear grinding machines.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

LATEST TRENDS

"Growth of the market in recent years"

Different designs are being developed by gear manufacturers, which aids in effective power transmission. The top manufacturers of gear cutting machines are always improving their products to offer the necessary precision even for complicated gear designs. By the end of the forecast period, the market for gear cutting machines is predicted to experience significant expansion. One of the major factors driving the market demand for gear cutting machines is the increased production and sales of vehicles in the automotive sector. Over the course of the projected period, it is anticipated that the global market for gear cutting machines would expand significantly.

Gear Cutting Machinery Market SEGMENTATION

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• By Type

Based on type the global gear cutting machinery market is classified as gear hobbing machine, gear shaping machine, gear shaving machine, gear grinding machine, other.

• By Application

Based on application the global gear cutting machinery market is classified as automotive industry, general machinery industry, aerospace industry, other.

DRIVING FACTORS

"The Utilization as a Catalyst to Boost the Market Growth "

Sales of Gear Cutting Machines are directly impacted by rising auto manufacturing. Over the past few years, the global automobile industry has been shown to increase steadily. The number of the middle class is predicted to grow in emerging nations, which will lead to increased manufacture of automobiles. Additionally, this is related to rising urbanisation as a result of the stable economic climate. As a result, manufacturers of gear cutting machines may have chances. Over the projection period, rising vehicle production and sales are anticipated to increase demand for gear cutting machines.

"Extensive Application in Laundering Process to Multiply the Production and Market Growth"

The growing demand for hybrid and completely electric cars has also fueled an urgent need for transmissions with silent operation. Only the most advanced gear cutting machines can provide the unique gear designs needed for noise reduction in power transmission. Therefore, the requirement for power transmission noise reduction is also driving the market for gear cutting machines. The potential for growth of gear cutting machines in the industry, however, may be hampered by their high starting cost.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market"

A gear cutting machine is a specialized tool used to cut, shape, and grind gears. During the gear cutting process, a metal gear or other metal component is cut into the appropriate shape or size using a power tool or machine. This machine can be used to produce gears for a variety of applications, including industrial, automotive, and aerospace machinery. Depending on the kind of material being cut, the machine will use various cutting tools, such as saw blades, drills, mill cutters, and reamers. Both manual and automatic operation is possible with the motor that typically drives the cutting tools.

Gear Cutting Machinery Market REGIONAL INSIGHTS

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"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

Seven geographical regions can be used to segment the market for gear cutting machines: North America, Latin America, Europe, CIS & Russia, Japan, APEJ (Asia Pacific except Japan), the Middle East, and Africa. Due to early adoption, the market for gear cutting machines in North America has rather moderate growth prospects. On the other hand, the market for gear cutting machines is expected to develop significantly in growing nations like China, India, Mexico, and ASEAN due to the region's increasing demand for SUVs and passenger cars, which in turn will drive up the price of gear cutting machines. Over the course of the forecast, Europe is expected to hold the top spot in the market for gear cutting machines, followed by APEJ.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• Gleason (US)
• Liebherr (Switzerland)
• Reishauer (Switzerland)
• Klingelnberg (Germany)
• Chongqing Machine Tool (China)
• Kapp Werkzeugmaschinen (Germany)
• Samputensili (Italy)
• MHI (Japan)
• Qinchuan (China)
• Kanzaki (Yanmar)
• FFG Werke (Taiwan)
• TMTW (US)
• ZDCY (US)
• HMT Machine Tools (India)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.